LHN 1H FY2026 revenue at S$60.9 million, profit at S$23.2 million on stronger co-living earnings

SGX Filings
05/14

LHN Ltd reported a net profit of S$23.22 million for the six months ended 31 Mar 2026, up 55.4 per cent year-on-year, driven mainly by a surge in contributions from its Coliwoo co-living business and a swing to a net fair-value gain on investment properties.

Basic earnings per share rose to 3.92 Singapore cents from 3.38 cents a year earlier. The board declared an interim tax-exempt dividend of 1.0 cent per share, unchanged from the previous year, with payment slated for 26 Jun 2026 and a books-closure date of 4 Jun 2026.

Group revenue declined 13.7 per cent YoY to S$60.93 million as the absence of property-development sales and lower car-park takings more than offset higher space-optimisation income. Segment profit before tax (PBT) was led by: • Residential – Coliwoo: S$17.63 million PBT (up from S$11.48 million) • Commercial: S$7.18 million PBT (up from S$0.23 million) • Industrial: S$2.59 million PBT (down from S$4.41 million) • Facilities Management: S$2.50 million PBT (down from S$2.29 million) The property-development unit posted a pre-tax loss of S$1.07 million in the absence of unit sales, while the energy business broke even.

Lower cost of sales (-20.4 per cent YoY) and a S$0.95 million net fair-value gain on investment properties versus a S$10.37 million loss previously helped boost profitability, despite a 21.4 per cent rise in administrative expenses linked to higher staff costs and spin-off listing fees for the Coliwoo arm. Net finance costs fell 31.3 per cent YoY to S$4.09 million on lower interest rates and loan repayments.

Going forward, management outlined several initiatives: • Space Optimisation: selective property acquisitions and continued conversion of standard storage units to higher-yielding, air-conditioned units at Work+Store. • Residential: expansion of the Coliwoo portfolio toward a 10,000-room target by 2030, with a 380-room resort-style project at Jalan Loyang Besar to open in 2H FY2026 and exploration of opportunities in regional markets. • Facilities Management: entry into elder-care related integrated services and addition of six new carparks comprising more than 1,800 lots in 2H FY2026. • Energy: growth of rooftop solar installations and electric-vehicle charging infrastructure to tap rising demand for energy resilience and decarbonisation.

Market outlook remains supported by tight office and residential rental conditions in Singapore, structural drivers for self-storage demand in dense urban areas, and the city-state’s push for renewable energy and EV adoption. The group is also accelerating capital recycling, having launched seven stabilised hospitality assets for sale at an indicative S$218.5 million to fund an asset-light growth strategy.

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